The market raised a glass to Diageo, the world’s biggest spirits group, after it reported a pick-up in drink sales around the globe. The company, which owns Smirnoff vodka and Gordon’s gin, struck a more upbeat tone than it did at its full-year results last month, having made a “good start” to its new financial year, the outlook for which has “improved” in recent weeks. Demand from supermarkets and off-licences remains “robust”, Diageo said, while it is also benefiting from the gradual reopening of bars and restaurants around the world. Bosses have been particularly pleased with trading in the United States, the company’s largest market, which is performing “ahead of expectations”. The stock is on for its best session since March as it popped

Source: The Times September 28, 2020 11:03 UTC